Americans’ attitudes towards the economy have improved this month for the first time since March, thanks to a better perception of the job market. This positive shift has been reflected in the Conference Board’s Consumer Confidence Index, which rose to a reading of 102 in the current month from 97.5 in April. People of all age groups in America expressed greater confidence in the economy, marking a turnaround from the decline seen in the previous three months.
Despite consumers’ assessment of current business conditions being slightly less positive compared to the previous month, their overall perception of the present situation was boosted by the strong labor market. According to Dana Peterson, chief economist at The Conference Board, this is a significant development that will be monitored closely as it unfolds.
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